Samsung plans to develop a $17 billion semiconductor manufacturing facility in Texas as part of its efforts to address a global shortage of chips. The South Korean electronics giant said last November 23 that the facility would create 2,000 high-tech jobs directly and thousands more in the local economy once it is fully operational, announcing its largest-ever investment in the United States. In the second half of 2024, the facility is planned to open for business. “With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain,” Kinam Kim, Vice Chairman and CEO of Samsung Electronics, said in a statement.

The city of Taylor in Texas was chosen for the new factory based on a number of considerations, including its proximity to Samsung’s current manufacturing location in Austin, the local semiconductor ecosystem, and government backing, according to the company. Along with Samsung’s latest new production line in Pyeongtaek, South Korea, the Taylor site will cover more than 5 million square meters and is projected to serve as a significant hub for the company’s global semiconductor manufacturing capacity. Samsung’s announcement comes at a time when President Joe Biden is promoting semiconductor manufacturing and research in the United States. Despite the fact that the current global scarcity of computer chips is mostly due to the pandemic’s impact, as well as harsh weather occurrences that have impeded manufacturing and other factors, the United States has been lagging behind other producers for years.